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Jan 17, 2013
01/13
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economy in 2013. real gdp growth in the nine states in the first half of 2013 before below 2% accelerating to 2.6% in the fourth quarter. the committee believes that the combination of tax hikes, a prolonged fight or the debt ceiling, and the possibility of severe spending cuts in 2013 have the potential to really stop this recovery in its tracks. one thing you will notice from our forecast table is that the recession probabilities from the committee are higher than normal. we still have the probability of a recession at 23% and for 2014, 20%. that is a little bit higher than what we typically see. we think the private sector is poised for sustainable growth. i think the housing numbers point to one area of strength, the housing market. the tax hikes at the start of 2013 will create a drag on gdp of at least 1.25%. the potential for additional budget and spending cuts from sequestration could add to the downside risks. we think resolving the debt ceiling in a timely manner and providing more clarity o
economy in 2013. real gdp growth in the nine states in the first half of 2013 before below 2% accelerating to 2.6% in the fourth quarter. the committee believes that the combination of tax hikes, a prolonged fight or the debt ceiling, and the possibility of severe spending cuts in 2013 have the potential to really stop this recovery in its tracks. one thing you will notice from our forecast table is that the recession probabilities from the committee are higher than normal. we still have the...
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131
Jan 15, 2013
01/13
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this is an $16 trillion is greater than our nation's economy exceeding our g.d.p. and we have on the floor floor toda legislation that calls upon our children and grandchildren even greater burdens of debt. it's time to end the credit card economics. we simply cannot afford to spend money that we are borrowing from countries like china on-line items we don't need and constitution isn't authorized to spend. my amendment strips one line item out of this bill. this is really low-hanging fruit. the sandy relief effort was increased by $1 million to boost the legal services corporation, massacre aiding as disaster relief and i thought we had a ban on earmarks in this congress. why is a bailout for new york lawyers emergency hurricane relief, even if you believe this is a legitimate government program which i don't, by the way, how can you argue that spending on lawyers is a legitimate emergency spending? let me say again, for $-- we are $16 trillion in debt, we are $16 trillion in debt, america. we simply cannot afford to continue like this. we cannot keep spending on m
this is an $16 trillion is greater than our nation's economy exceeding our g.d.p. and we have on the floor floor toda legislation that calls upon our children and grandchildren even greater burdens of debt. it's time to end the credit card economics. we simply cannot afford to spend money that we are borrowing from countries like china on-line items we don't need and constitution isn't authorized to spend. my amendment strips one line item out of this bill. this is really low-hanging fruit. the...
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Jan 15, 2013
01/13
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and a lot of the revenue coming into these economies is coming from tourism. they come to see historic structures. they come to see the way that many parts of the northeast were. when we were building the foundation of this country. that money should be made available in whole with federal dollars. mr. frelinghuysen's amendment is right on point. it needs to be included. so i know i'm getting to -- i've got a good speech written to thank you. we've got wonderful staff. but the fact is this is an opportunity -- mrs. lowey: i'm pleased to yield another minute. mr. moran: another minute. thank you, thank you, madam chair. the fact is that this is an opportunity to show what we're all about. do unto others as we would have them do unto us. let's make this money available. let the northeast repair itself, heal itself, get that economy back on its feet, start returning revenue to the federal government. the fact is that these northeast states contribute more to the federal treasury than they get out of the federal treasury. so let's get this done. and we want to rec
and a lot of the revenue coming into these economies is coming from tourism. they come to see historic structures. they come to see the way that many parts of the northeast were. when we were building the foundation of this country. that money should be made available in whole with federal dollars. mr. frelinghuysen's amendment is right on point. it needs to be included. so i know i'm getting to -- i've got a good speech written to thank you. we've got wonderful staff. but the fact is this is...
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77
Jan 14, 2013
01/13
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banks are important part of the economy and the finance new job growth and the ability of people to buy a home, which is the largest single investment that they will make. we really need for them to be there to help the consumers and businesses finance their operations. the balancing act is not being too strict so that they will draw in and not land but not being too lax. that is a fine line. we shall we shallthe cfpb has achieve that with these rules. financial institutions will complain about any regulation because they did not want to be subject to kinds of rules that instruct them in how to do their business. when you read the complaints from the financial industry, i would say we have to take some of those with a grain of salt. host: gretchen morgenson is the "the new york times" assistant business and financial editor. she was co-author of "reckless endangerment.' guest: who basically were the interco parties in creating the crisis decades later. host: don is next from clifton, virginia. caller: a good time to segue the early seeds being sewn. things like the community reinvestmen
banks are important part of the economy and the finance new job growth and the ability of people to buy a home, which is the largest single investment that they will make. we really need for them to be there to help the consumers and businesses finance their operations. the balancing act is not being too strict so that they will draw in and not land but not being too lax. that is a fine line. we shall we shallthe cfpb has achieve that with these rules. financial institutions will complain about...
146
146
Jan 16, 2013
01/13
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that is such a serious threat to the economy of this country. you i think saw in the clips this morning that credit agencies are saying once again the credit of this country is threatened. are we really going to put in jeopardy the full faith and credit of the united states of america? host: i want to get viewers involved but the credit agencies have said you also need to address spending. guest: that's agreed. we talk about balance. it's balance versus inbalance. balance has to win. host: let's get our viewers involved. junior in virginia, independent caller. hi, junior. caller: mr. levin, why are you standing there telling us stuff that you know is not true ? when are we going to see a budget from this administration? everything you said is untrue? we know it's untrue. host: what did he say specifically that is untrue? caller: blaming the republicans. four years we've been under this -- guest: junior, the administration has presented a budget every year. it's not correct to say they haven't presented a budget. we've been dead locked within the
that is such a serious threat to the economy of this country. you i think saw in the clips this morning that credit agencies are saying once again the credit of this country is threatened. are we really going to put in jeopardy the full faith and credit of the united states of america? host: i want to get viewers involved but the credit agencies have said you also need to address spending. guest: that's agreed. we talk about balance. it's balance versus inbalance. balance has to win. host:...